GRPN Soars 23%: Google Might Consider a Bid, Says Bloomberg

By Tiernan Ray

Bloomberg‘s Douglas MacMillanthis afternoon writes that the rise today in Groupon (GRPN) shares of 88 cents, or 23%, to $4.69 was prompted by rumors that Google (GOOG) might consider bidding for the company, citing remarks by Tom Forte of Telsey Advisor Group.

Google and Groupon representatives declined to comment to MacMillan, he notes.

Groupon also, apparently, canceled an upcoming appearance at an investment conference hosted by Sterne Agee, it was reported earlier today by wire services.

Google was rumored to be shopping for Groupon two years ago, and willing to pay $6 billion, but was ultimately rebuffed by Groupon before the e-commerce company went public, according to press reports at the time.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.